News for Indigo Paints Limited (INDIGOPNTS.NS)

Asian Paints share price hits 52-week low today on the NSE at ₹2,506.

Indian indices fell over 1% on Thursday, erasing prior gains, driven by profit-booking, concerns over foreign inflows, and weak corporate earnings. Analysts suggest mixed sentiment, with some maintaining a bullish short-term outlook for the Nifty, targeting 25,350.

The shares were sold in the price range varying from Rs 495.01-496.12 apiece, taking the combined transaction value to Rs 1,601.71 crore

Peak XV Partners (formerly Sequoia Capital India & SEA), and four others on Thursday divested a 10 per cent stake in Honasa Consumer, which owns Mamaearth brand, for Rs 1,601 crore through open market transactions, while ICICI Prudential Life Insurance and Morgan Stanley acquired stakes in the company.

Buzzing stocks Stocks that will see action today 9 September 2024: Ola Electric, Jio Financial, HUL, Shriram Fin, Adani Enterprises, Signature Global, Ahluwalia Contracts, Tata Power, SpiceJet, Metro Brands, Godfrey Phillips, Indigo Paints, Suzlon, Au Small Finance, Nykaa, Wardwizard Innovations, Mazagaon Doc, Seven Pharma, Ami Organics

Peak XV Partners, formerly Sequoia Capital India and SEA, on Friday, divested a little over 22 per cent stake in Indigo Paints to investors like Morgan Stanley, Mercer and HDFC MF for Rs 1,557 crore via open market transactions.

The NSE Nifty index closed 292.95 points down at 24852.15

The NSE Nifty 50 and the BSE S&P Sensex settled little changed at 24,836.1 and 81,355.84 points, respectively. Both benchmarks had risen 0.4% to all-time highs earlier in the session.

Paint shares surged due to price hikes, led by Indigo Paints at 10.7%. Analysts foresee short-lived gains and pressure from Birla Opus. Nomura views price hikes favorably. Despite underperformance in 2024, Q1 earnings may be muted, keeping stocks range-bound. Anand Rathi sees opportunities. Elara Capital cites margin pressure and muted FY25 earnings, advising strategic investment.

Despite gains for RVNL, CAMS, and REC, the bearish market saw Sensex and Nifty crashing. RVNL gained 8%, CAMS 4%, and REC over 3%. Mahindra & Mahindra fell 7%, signaling weak auto demand. Media, PSU banks, real estate, and oil and gas sectors suffered. Sensex and Nifty's crash impacted smallcaps significantly.

The Nifty 50 settled 0.08% lower at 22,434, while Sensex shed 0.04% to 73,877. Nifty 50 formed a small positive candle on the daily chart with a gap down opening and with an upper shadow. Technically this pattern indicates broader range movement in the market near all-time highs, said Nagaraj Shetti, senior technical research analyst at HDFC Securities. The MACD showed bearish signs on the counters of P&G, and Caplin Point among others.

Warburg Pincus divests stake in Kalyan Jewellers, spectrum auction approved, railway projects approved, and more corporate news.

Smallcap World Fund sold Rs 104.06 crore stake in Indigo Paints.

Based on the OI percentage, 81 stocks were on the short-covering list. These include Indraprastha Gas, Britannia Industries, Dr Lal PathLabs, Mahanagar Gas, and Maruti Suzuki India.

Last trading week had been a roller coaster ride. As the Indian stock market opens for a new trading week today, experts say that the trend may continue, , stock market today, share market today, national stock exchange, bombay stock exchange, bse sensex, nse nifty, morning update

Adani Enterprises, Adani Ports, SBI, Infosys and TCS were among the biggest losers on the Nifty, while gainers were Titan Company, NTPC, Larsen and Toubro, Bajaj Auto and Eicher Motors

The domestic indices slipped today ahead of the monthly expiry of derivatives and Union Budget presentation, due on February 1. Further, short-seller Hindenburg Research's report on Adani Group companies pulled the indices lower.

Most of the revenue growth will be driven by price hikes, while food will outperform personal care. Discretionary companies such as paints, jewellery, apparel and QSR face a demand slowdown, say analysts

Indian benchmark indices were trading with gains on Friday, tracking upbeat cues from overseas. The BSE Sensex was up around 300 points at 54,530, and the NSE Nifty was 100 points higher at 16,250. The broader markets were outperforming the benchmarks.